When was the last time you checked your insurance policy to determine how much coverage you have for your artwork, jewelry, precious metals, and other items of value? If you have a standard homeowners policy then odds are that expensive diamond wedding ring, or Rolex given to you by your father likely exceed the amount of available coverage available in your policy.

Such a result could be terrible given that you likely spend thousands of dollars every year on insurance coverage thinking that your valuables are in fact covered. So you could come home one day to find that your house has been burglarized only to be further insulted to learn that you don’t have enough insurance coverage to help you replace your stolen valuables. So to repeat, it is of paramount importance to understand your scope of available insurance coverage in the event of a loss.

Moreover, it is also of paramount importance to take extra precautions to protect expensive artwork, jewelry, exotic cars and other valuables in the event of a hurricane in south Florida.

The need has even led to something of a growth industry: Just as the need for extra space led to the boom of the self-storage industry in the 1960s, so has the need to protect exotic valuables from storm damage led to businesses like Museo Vault, a business aimed at protecting high-priced assets like artwork or cars.

Our Miami insurance dispute attorneys encourage you to determine the coverage needs for expensive items in your home and take steps to make sure that you are properly covered in the event of a hurricane. If your jewelry is stolen during a home invasion, and you have not taken steps to ensure that all of your jewelry is insured, then odds are you will likely not recover the full value of your valuables. Conversely, if you are dealing with an insurance company that refuses to pay a legitimate claim to which you are entitled, then contact our office today to discuss your rights.

Moreover, Miami’s booming art reputation has led to a cottage industry of art galleries and other businesses that specialize in handling, shipping and storing art. The idea for Museo Vault came after the busy 2005 hurricane season.” The topic of conversation was how to keep artwork safe in this environment where we have five or six months of terrible hurricane storms that come through,” said owner David Lombardi.

Art collectors also know that a solid hurricane protection plan can be required by insurance companies. But they should also ensure that they have secured enough insurance coverage for all other causes of losses in the event of a loss.
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If you are facing a dispute over an insurance claim in Florida, contact Alvarez & Barbara, LLP toll free at 866-518-2913 for a free and confidential consultation to discuss your rights.